Related topics: earnings

Wage insurance: A promising policy for displaced workers

Each year, millions of workers are displaced due to technological advancements, international competition, offshoring, and regulatory changes. These shifts can devastate workers, particularly those with specialized skills ...

A mathematical understanding of project schedules

Complex projects are made up of many activities, the duration of which vary according to a power law; this model can be used to predict overall project duration and delay.

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Income

Income is the consumption and savings opportunity gained by an entity within a specified time frame, which is generally expressed in monetary terms. However, for households and individuals, "income is the sum of all the wages, salaries, profits, interests payments, rents and other forms of earnings received... in a given period of time." For firms, income generally refers to net-profit: what remains of revenue after expenses have been subtracted. In the field of public economics, it may refer to the accumulation of both monetary and non-monetary consumption ability, the former being used as a proxy for total income.

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